My partner and I intend to remortgage our penthouse in Benllech with RBS. We have a son 18 who lives with us. Our solicitor requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have a couple of questions (1) Is this document specific to the RBS conveyancing panel as he never had to sign this form when we bought 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to RBS. This is solely used to protect RBS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of RBS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
We hope to to purchase with Darlington Building Society. I called into a couple of high street companies but am unable to find a Benllech conveyancing firm on the Darlington Building Society panel. Could you assist?
Please do take advantage of the find a conveyancing panel solicitor tool on this page. Pick the lender and type Benllech or your location and you will discover numerous conveyancers located in Benllech or near you.
I am helping my niece sell her property in Benllech. Will the conveyancer order the energy performance certificate or should I organise this?
After the abolition of HIPs, energy assessments became a required component of moving property. An EPC needs to be to hand in advance of the property being advertised. This is not as aspect of the sale process that conveyancers ordinarily organise. Where you are instructing a Benllech conveyancing solicitor they may help arrange energy assessments given their relationships with long established Benllech assessors
When it comes to mortgage companies such as Bank of Ireland, do Benllech conveyancers incur a yearly amount to be on the list of approved solicitors?
We are not aware of any bank fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
I had a mortgage agreed in principle with RBS. Benllech conveyancing lawyers were appointed. How long does it take for RBS to issue the offer to the property lawyer?
There is no definitive answer here. Have RBS conducted the valuation? Have you advised RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a simple, no chain conveyancing. Benllech is where the house is located. Can you shed any light on this issue?
Flying freeholds in Benllech are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Benllech you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Benllech may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I've recently bought a leasehold property in Benllech. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I invested in buying a 1st floor flat in Benllech, conveyancing having been completed in 2000. Can you work out an approximate cost of a lease extension? Corresponding properties in Benllech with over 90 years remaining are worth £186,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease comes to an end on 21st October 2073
With 51 years unexpired we estimate the premium for your lease extension to span between £30,400 and £35,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.
What can I do to establish who is the owner of a property in Benllech?
Assuming that the property is registered with the Land Registry, and you have requisite details of the location of the property, you should be able to view results from the HM Land Registry of the registered owner for a for less than a fiver.